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Romania: Employers that do not pay income tax and social contributions they retain for their employees will commit tax evasion – new legislative project

Finance has published a legislative project subject to public debate on the incrimination of additional conducts as tax evasion, including the situation when the employer does not distribute to the corresponding budgets the income tax and social contributions the employer retains from the employee’s gross wage. At this moment this conduct is not criminally sanctioned […]

Romania: New fiscal regime for employers and employees

Starting January 1st 2018 a new fiscal regime for the wage system in Romania will be enforced. At this moment the burden of social contributions and income tax is divided between employers and employees. According to the new fiscal regime, the employee will bear the burden of all contributions to the pension system, health system and income tax. The employer will pay an additional contribution of 2.25% of all monthly wage funds.